Mentha oil futures fall 1.20% on profit-booking

NEW DELHI, Dec 7: Mentha oil prices declined by 1.20 per cent to Rs 1,860 per kg in futures trading today as speculators booked profits at prevailing levels amid easing demand from consuming industries at the spot markets.
Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh fuelled the downtrend.
At the Multi Commodity Exchange, mentha oil for delivery in January fell by Rs 22.50, or 1.20 per cent to Rs 1,860 per kg in business turnover of 60 lots.
Likewise, the oil for delivery in December was trading lower Rs 18.40, or 0.99 per cent to Rs 1,836.10 per kg in 259 lots.
Analysts said besides profit-booking by participants at existing levels, fall in demand from consuming industries in the physical market against sufficient stocks position on increased arrivals from Chandausi in Uttar Pradesh mainly weighed on mentha oil prices at futures trade. (PTI)